The Dec. 1 ouster of Frederick A. "Fritz" Henderson as General Motors' CEO was a surprise, but only in how fast it happened. Since GM emerged from bankruptcy in September, Chairman Edward Whitacre Jr. had become the de facto chief executive, and his board had reversed one of Henderson's biggest decisions. Now, as Whitacre looks for a new CEO (assuming he doesn't take the job himself), he and the directors are inrnthe driver's seat. Whitacre and much of the board are industry outsiders. Now GM veterans are asking: Do they know what they're doing?
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